Renovated Multi-Tenant
New
For Sale
$795,000
3031 South Holt Road, Indianapolis, IN 46221
Renovated industrial space with C5 zoning and automotive uses permitted.
Property Size10,000 SF
Price / SF$79.50
Days on Market3
Property Features for 3031 South Holt Road
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Industrial
Zoning
C5
Occupancy
50%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
10,000 SF
Buildings
1
Tenancy
Multi
Listing Agency:
SVN | Northern Commercial
(317) 586-0541
Listed By:
Nick O'Patterson · License #IN #RB25000914
(317) 586-0541
Source:
Svn
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 5:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Northern Commercial
Investment Insights
Based on property information with market context.
Located at 3031 South Holt Road in Indianapolis, this renovated multi-tenant warehouse contains 10,000 SF and is configured for industrial occupancy. The property is 50% occupied, with 5,000 SF leased through 7/31/2030. Recent capital improvements have been completed, and the C5 commercial zoning permits automotive uses among other applications.
The property is positioned near Kentucky Avenue with access to I-465 and I-70. Its multi-tenant layout combines leased space with additional availability within an established industrial setting.
The property is positioned near Kentucky Avenue with access to I-465 and I-70. Its multi-tenant layout combines leased space with additional availability within an established industrial setting.
Key Highlights
- 10,000 SF renovated multi‑tenant industrial building
- 5,000 SF leased through 7/31/2030
- 50% occupancy with additional space available
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$60,532
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,210,640
$1.2M
Cap Rate 7%
$864,743
$864.7K
Cap Rate 9%
$672,578
$672.6K
Market Conditions
NOI Build-Up for 10,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$78.0K $7.80/SF
− Vacancy
−$6.8K −$0.68/SF
EGI
$71.2K $7.12/SF
− OpEx
−$10.7K −$1.07/SF
NOI
$60.5K $6.05/SF
Area
Indianapolis, IN
Vacancy
8.70%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,210,640
Cap Rate 7%
$864,743
Cap Rate 9%
$672,578
Alternative Uses
Best Use
Retail
$1.54M
$1.35M – $1.79M
NOI $107,604 @ 7.0% cap · market cap 13.54%
Second Best
Warehouse
$864.7K
$756.7K – $1.01M
NOI $60,532 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,240 @ 7.0% cap · market cap 21.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
50%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46221, IN
27,991
Population
11,120
Households
2.5
Avg Household Size
35
Median Age
16%
College-Educated
85%
High-School Grad
20.0 sq mi
ZIP Area
1,400
Density / Sq Mi
$58,316
Median Household Income
$40,665
Median Earnings
$1,111
Median Rent
$174,900
Median Home Value
Market
Vacancy Rate% for Industrial in Indianapolis, IN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Circle City Movers — 3030 mars hill st, indianapolis, in 46241
Frequently Asked Questions
What type of property is this?
Warehouse - Renovated industrial space with C5 zoning and automotive uses permitted.
Where is this warehouse located?
The property is located at 3031 South Holt Road Indianapolis, IN.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 10,000 SF renovated multi‑tenant industrial building; 5,000 SF leased through 7/31/2030; 50% occupancy with additional space available
